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Belle Glade 72 Units Deal A

Schedule O: Tax Liability on Residual Values

by participant

  Total PROJECT Developer Lender Investor Other Public Secondary Lender ADJUSTMENT
PARTNERSHIP BASIS BEFORE SALE                  
Investment 442399   442399            
Costs Exp.During Const.                  
Tax Losses -106242   836424         -942667  
Cash Distributions -689231   -689231            
Resulting Basis -353075   589592         -942667  
                   
EFFECT ON BASIS OF SALE                  
Proceeds of Sale (gross) 5,703,600 5,703,600              
Orig. Cost & Capital Replcmnt -3089592 -3089592              
Costs Expensed During Const                  
Non-Cash Charges 942667 942667              
Resulting Gain 3,556,675 3,556,675              
Dist.of Gain to Partners 3,556,675   2,372,302         1,184,373  
                   
Resulting Basis 3,203,600   2,961,894         241706  
                   
Final Cash Distribution -3203600   -2136801         -1066799  
                   
Final Basis     825093         -825093  
                   
Combined Capital Gain 3,556,675   1,547,209         2,009,466  
                   
Est. Tax Liability 401893             401893  
Add'l Tax for Acc. Dep.                  


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